The professionals at My CPA, PA, offer an array of virtual CPA and CFO services. We strongly focus on two main areas – business and IRS tax services. We are equipped with a Fort Lauderdale CPA, an in-house tax attorney, a former IRS agent, and more than twelve years of experience. Our team handles day-to-day business accounting services in Fort Lauderdale, FL, so you can focus on what’s important—running your business.

Fort Lauderdale CPA for Your Business

The main goal of a business owner is to make money and to grow continuously. As a Fort Lauderdale business accountant, we can provide insightful business and accounting services such as:

•  Business consultation and incorporation
•  Monthly bookkeeping and payroll
•  Business tax preparation
•  Profit and loss statements

Fort Lauderdale IRS Tax Resolution Services

With the invaluable expertise of our in-house Fort Lauderdale tax attorney and former IRS agent, our firm possesses a unique and formidable advantage when representing individuals and businesses dealing with IRS issues. Our team’s capabilities extend far beyond conventional tax legal services, offering a comprehensive and specialized approach to addressing a wide range of tax-related challenges.

Spotlight On: Choosing a Business Entity Type

One of the earliest steps in starting a business is choosing your business entity type. Business entity type, also called legal entity type or business structure, is the form chosen by one or more individuals to organize and conduct a business under state law. Entity type affects the legal liability of the company and its owners and how the business is taxed.

There are many different types of business entities that vary by state. However, the most widely used are sole proprietorship, limited liability company, general partnership, limited partnership, and corporation. Sole proprietorships generally require no state registration and are the default classification for a single-owner business. For this reason, approximately 70-80% of businesses in the US start as sole proprietorships. A general partnership is the default classification for a business with two or more owners. Businesses may instead choose to register with their state and organize as a limited liability company (“LLC”), limited partnership, or corporation. An LLC is helpful if they want to limit the personal liability of the business owners for business debts.

There are more complex business entity type selections and considerations. For example, a business may register as an LLC with its state but elect to be treated as a partnership (if two or more members), a C corporation, or an S corporation for income tax purposes. Careful consideration must be made before selecting one’s business entity type. Moreover, the state’s registration requirements should be carefully followed.

We provide virtual accounting services to clients from Plantation, Davie, Miramar, and more.